Other things equal, if foreign holdings of U.S. dollars decrease,
A) the balance on the U.S. current account will decrease.
B) the balance on the U.S. financial account will decrease.
C) the balance on the U.S. capital account will decrease.
D) the U.S. balance of payments will decrease.
B
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To make a rational choice, a person
A) adds the total costs to determine if the total is small enough. B) adds the total benefits and the total costs and then compares the two totals. C) takes account of all benefits and all opportunity costs, including both marginal costs and sunk costs. D) adds the total benefits to determine if the total is large enough. E) compares the extra benefits of one more unit to the extra costs of one more unit.
Fixed costs are
A) a production expense that does not vary with output. B) a production expense that changes with the quantity of output produced. C) equal to total cost divided by the units of output produced. D) the amount by which a firm's cost changes if the firm produces one more unit of output.